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CNBC’s Technology and Media Editor Dennis Kneale was at the Forbes Media Conference in Beverly Hills. AT&T (T) CEO Randall Stephenson told him at the conference that he would like to have a broadband service outside of the 22 states AT&T currently operates in, increasing speculation that the company has its sights set on a satellite name like Echostar (DISH) or DirecTV (DTV).
DISH is the better play, Jeff Macke said. DTV is in the middle of an “ownership quagmire” that makes it less attractive to potential suitors. And the increased options activity in DISH shouldn’t be written off either, Pete Najarian said. “DISH is the better name.”
Also at the Forbes conference, Barry Diller of IAC/InterActiveCorp (IACI) dismissed to Kneale the value of Facebook based on Microsoft’s purchase. But Diller’s thinking on the subject was antiquated, Kneale said. People thought Google (GOOG) was crazy when it went public and now look at its valuation. With so many registered users and so many opportunities for targeted ads, Facebook is naturally somewhere advertisers would go and pay huge premiums, Kneale said. With that in mind, and the late breaking news that the company is in discussion with hedge funds and private equity to raise even more cash, the valuation isn’t necessarily so absurd.
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Trader disclosure: On Oct 25, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders: Macke owns (INTC), (ATVI), (EMC), (YHOO); Najarian owns (UA), (DISH), (GOOG), (YHOO), (MSFT) Options; Finerman’s firm and Finerman own (GS); Finerman’s firm owns Russell 2000 Puts, S&P 500 Puts, (NMX), (NYX), (MSFT), (BEAS), is short (BIG), (MER); Finerman owns (C)
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